Wedgewood Golf Course, located off of Texas 105 in Conroe, is closing by the end of the month.

Wedgewood Golf Course, located off of Texas 105 in Conroe, is closing by the end of the month.

Photo: Michael Minasi

Wedgewood Golf Course to close by January’s end

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It’s been a stalemate so far in the negotiations to purchase Wedgewood Golf Course in Conroe.

A group of residents in the neighborhood have been attempting to raise money in hopes of buying the course from Plains Capital Bank, but talks have hit a snag - namely in the price.

“We’ve made an offer and the bank has countered,” said Wayne Norman, one of the men leading the push. “We countered their offer. They countered our counter. We countered that.”

Neither side budged, which means at the end of the month, the golf course will close, Norman said. The Courier wasn’t able to contact a representative of the bank by press time Tuesday.

“It’s going to be closed,” Norman said. “In February or March, they will still be looking at us to make an offer. Our job is to keep on being consistent and staying with something that’s feasible. Something that’s profitable so we can make money and manage it.”

He says the bank isn’t being reasonable in its offer, which he didn’t price specifically.

“If you’re buying a car and you think it’s $10,000, they may ask for $15,000,” he said. “You have to hold to your $10,000 because that’s what you can afford in your budget. Otherwise, you have to change to another car. We don’t have that option to change to another car.”

The plan started earlier in 2015 when residents found out the course would be sold and were afraid the land would change use.

Norman’s plan involved raising $3 million to buy the course, make necessary upgrades, and hire a team to manage the course, currently being managed by Touchstone Golf Management.

The group first hired a lawyer to help with negotiations.

Assuming the group were to maintain the initial $3 million goal, Norman said the organization would sell $5,000 memberships, which work similar to stocks but don’t actually grant part-ownership, to those interested. It isn’t limited to the Wedgewood community, but anyone interested in the purchase of the course. That means the group has about 600 memberships to sell.

Norman said they will continue negotiating into February and March, if needed, to secure the land.